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- Top Challenges Property Managers Face
Managing a property is not easy especially with multiple tenants to deal with, in a survey of 100 property management professionals asking their most pressing challenges by Unicom we find that these are some of the biggest challenges property managers face:
1. Time Management
When managing a property there are so many areas that demand the attention of a property manager. They have to deal with maintenance, property damage, contractors, complaints, accounts, reports, and many more.
2. Costs Spiralling Out of Control
Managing costs is essential to keeping a healthy cash flow. Unexpected damages or maintenance can easily put a tailspin in the property’s cash flow.
Without proper tracking and management of finances, this can easily lead the property into precarious financial positions and disrepair.
3. Accounting Tasks
Dealing with high volumes of transactions can be overwhelming. If property managers do not tend to it on a regular basis, it piles up and becomes overwhelming.
Keeping on top of the accounts is important to balancing the books and ensuring accurate reporting, no leakages, and profitability.
4. Managing Tenant Complaints
When a property has dozens of tenants, it can be overwhelming to deal with their complaints.
It’s essential to keep up to date with tenant complaints. Otherwise, it could lead to bigger problems in the future and also tarnish the reputation of the property and property management.
5. Communication To Staff or Tenants
There’s often communication breakdowns and messages do not reach the right people in time. Good communication is key to ensure that the community’s needs are heard and met.
Advelsoft provides a complete PMS system solution to address these key issues to save your time, manage your costs, streamlining accounting tasks, dealing with tenant complaints, ensuring effective communication to staff and tenants, and more for your strata property management needs with our trusted and well-established software that’s been in the market since 1991 and is in constant development and improvement with 6 major revisions to date.
With decades of experience under Advelsoft’s belt, we understand the problems faced by property managers and we have designed our PMS system to solve virtually every problem a property manager faces.
Get in touch with us today to learn more about our property management systems.
Published : 22-Dec-2020